AGM Statement

RNS Number : 4713J

Westminster Group PLC

29 June 2017

 

Westminster Group Plc:

AGM Statement

Westminster Group Plc ('Westminster', the 'Group' or the 'Company'), the AIM listed supplier of managed security services and technology based security solutions to governments and government agencies, non-governmental organisations (NGOs) and blue chip commercial organisations worldwide, will hold its Annual General Meeting today at 11am at the offices of Moore Stephens LLP, 150 Aldersgate Street, London, EC1A 4AB. At the meeting, Westminster's Chief Executive, Peter Fowler, will provide shareholders with the following update:

"In the 2016 Annual Report issued on 5^th June 2017 I was pleased to report that our business is now in a better position than it has been for some time as we continue to expand our international presence including the establishment of subsidiaries and an operational office in Germany which will provide strategic support for our projected growth.

"A defining and key focus for the Group in recent months has been on closing the long term Middle East project opportunity which is expected to result in revenues in excess of £35m per annum. I am pleased to report that we have made substantial progress with this complex project. Following extended discussions over recent months around the scope of works, preparations are now being made for certain Board members and myself to travel to the country concerned for what we hope will be final negotiations, although with complex projects of this nature there can never be certainty as to timing or outcome. We expect to provide an update on developments in the near future.

"Airport security solutions and our experience in the sector represent a significant growth opportunity for the Group and we continue to progress a number of long term prospects, both those under existing MoUs and others that are at an early stage.

"As I mentioned in our 2016 Annual Report, we have an opportunity to achieve unprecedented growth from the many prospects and initiatives we are pursuing, any one of which could be transformational for the Group, and the Board and I remain committed to delivering on this potential."

For further information, please contact:

Westminster Group Plc	Via Walbrook PR
Rt. Hon. Sir Tony Baldry - Chairman
Peter Fowler - Chief Executive Officer
Martin Boden - Chief Financial Officer
S. P. Angel Corporate Finance LLP (NOMAD & Joint Broker)
Stuart Gledhill	020 3470 0470
Lindsay Mair
Beaufort Securities Limited (Joint Broker)	020 7382 8300
Elliiot Hance
Walbrook (Investor Relations)	020 7933 8780
Tom Cooper	0797 122 1972
Paul Vann

Notes:

Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.

Westminster's principal activity is the design, supply and on-going support of advanced technology security solutions, encompassing a wide range of surveillance, detection, tracking and interception technologies and the provision of long-term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of ferry services, manpower, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations. 

 

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